Technical and economic evaluation of power quality performance using FACTS devices considering renewable generations

Abstract

Renewable energy is investigated as a solution for environmental pollution and mitigating energy tension. Overall, there are two basic subjects in technical and economic evaluation of Renewable Energy Sources (RES) including lack of a general indicator for multi-criteria assessment and difficult to quantify analysis indicators. In this paper, an analytical approach for assessing the technical and economic performance of Power Quality (PQ) changes strategy using Flexible AC Transmission System (FACTS) devices is presented. In addition, an optimisation-based power quality change method for delivering differentiated power quality in grids integrated with renewable generations is proposed. The suggested method is based on the evaluation of financial losses due to several critical power quality phenomena, the cost of different mitigation solutions, and the payback owing to the adoption of particular solution. Furthermore, this accounts for different customers’ requirements and provides differentiated levels of power quality across the grid. In order to verify the functionality of the suggested method, effectiveness of proposed model is applied to the IEEE 118-bus test case, and compared with achieved outcomes. The simulation results present both the financial and technical benefits of the optimal mitigation plan. The developed assessment model could provide a reference for investment decision making and subsidy policy optimizing.